A new residential tower will soon be going vertical in the shadow of the Prudential Center as Newark’s Summit Tower has officially begun construction.
Approved back in early 2024, the high-rise comes courtesy of Newark-based KS Group. Summit Tower will be situated at 200-206 Market Street, which was previously home to older structures that have sat vacant for at least two decades.
Demolition began last year, and while a snowy winter torpedoed a planned groundbreaking ceremony, construction has started to ramp up at the property. Designed by INOA Architects, the 41-story tower will top out at just over 514 feet.
A total of 514 residential units are included in the approved plan, which will set aside 20 percent of the units as affordable housing. Summit Tower will also feature a garage with 142 parking spaces for future residents.
The development will add a retail storefront along Edison Place and add to a row of bars and restaurants that have popped up in recent years across from the Prudential Center, which sits directly behind the property. The Summit Tower site itself is situated within the Four Corners Historic District, which is listed on both the National and New Jersey Register of Historic Places.
Amenities for residents in the future Summit Tower will include a gym, lounge spaces, a foosball area, a golf simulator, and a children’s room. An estimated completion date for the complex has not been announced.
KS Group has stayed busy in Newark during recent years, completing such notable developments at 50 Sussex and Central Pointe. The company has several other high-rises that have received approval and are in the works, including Nova Towers and Mulberry Pointe, the latter of which is being challenged in court.
